MCI and SKC target to form the new joint venture company (“JVC”) by April 1, 2015 subject to completion of necessary procedures, such as the obtaining of relevant approvals and licenses.The JVC is headed to be a global comprehensive manufacturer of polyurethane materials which provides value for customers and targets sales of US$2.0 billion per year around 2020.

Basic strategies of the JVC are as follows:

Satisfy customer needs in growing marketsThe JVC will fully utilize the global networks of MCI and SKC covering Far East Asia, China, ASEAN, Europe, and the Americas based on close relationships with customers and the provision of quick and efficient technical services.

Explore new businesses globallyThe JVC will develop new applications and customers through consolidation of products and technologies of MCI and SKC.

The JVC intends to maximize the synergy effects by integrating system product businesses. The knowledge and information accumulated by MCI and SKC over the years will be shared and utilized by the JVC to provide total solutions to customers.

（1）global headquarters will be established in Korea（2）The headquarters will succeed SKC business with its affiliate companies and own all shares of the Japanese subsidiary（3）3The Japanese subsidiary will succeed MCI business with its affiliate companies